SABMiller toasts South African tipplers

STRONG beer sales in its home market helped South African brewer SABMiller to strong third-quarter figures today. Sales volumes in the three months to the end of December grew by 5%, helped by South Africa's peak summer drinking season.

'South African volume growth was supported by good weather and continued robust consumer spending,' SABMiller said.

The figures come even after sales of its Miller beers told a different story.

Sales of Miller to retailers were down 0.3% during-the quarter. The company said this reflected the weak industry environment, but that during the period Miller had increased market share.

In Europe, thirsty Poles, Russians and Romanians accounted for a 6% rise in sales in the region, and made up for a slowdown in Italy, Hungary and Slovakia.

The company said the sales figures meant it remains in line with City forecasts. Shares in SABMiller rose 8p to 866p, close to an all-time high.